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Mark Cuban, billionaire investor and owner of the Dallas Mavericks football team, said on June 14 that the US government and regulators need to start promoting the decentralized finance (DeFi) industry. Otherwise, America will lose the great growth engine it needs.
Mark Cuban discussed DeFi’s broader potential. He noted that by nature, DeFi projects are decentralized and not located in the United States. His argument partly blames regulators for pushing innovation out of the country.
He predicts that in 10 to 20 years, we will look back at this time period and observe that the companies that are changing the world have been built. Among those companies, it is certain that De-Fi and other crypto institutions will be at the top of the list. At the same time, he warned that if politicians choose to continue to stifle innovation, this growth potential could be wasted.
The comment often accompanies Mark Cuban’s deeper action on DeFi. Indeed, he has recently been particularly focused on certain DeFi projects in his portfolio, including the Ethereum Layer 2 scaling solution Polygon and the lending protocol Aave.
See more: Mark Cuban officially entered the “promised land” Polygon, the Layer 2 game is getting more and more attractive
Cuban says that the key difference between traditional businesses and decentralized businesses is that DeFi companies don’t need to raise a lot of money to get started or focus on maximizing profits.
Cryptocurrency competition is fierce. But when compared to centralized, traditional businesses, all things being equal, I always use crypto.
DeFi has been undeniably the fastest growing sector in the crypto market over the past year. Despite the frenzy of sell-off, DeFi revenue in May still grew by leaps and bounds.
Shark Kevin O’Leary, Mark Cuban’s friend on Shark Tank, plans to start a DeFi-focused investment company by the end of May. This proves DeFi is increasingly important to the whole world. cryptocurrency market suite.
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